Both Bitcoin is some selling pressure and looks heading back to this month’s low. Negative news for cryptocurrencies are neverending, with reports that giant Digital Currency Group could be in trouble after its crypto lender Genesis was forced to pause withdrawals. The earlier collapse of FTSE was put to blame.
Technically, Bitcoin’s consolidation pattern from 15541 might have completed. Break of this low will resume larger down trend to 100% projection of 25198 to 18144 from 21460 at 14406, or even further to 2019 high at 13855. Break of 17134 resistance will delay the bearish case and extend the consolidations first.
